African-american Business Association Inc

Nonprofit profile at a glance

EIN
453387003
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2021
Location
Waterloo, IA, USA
Phone
3195046685
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$268,344
Expenses
$473,713
Assets
$3,696
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • MATTHEW GILBERT (PRESIDENT)

People named in this filing

  • MATTHEW GILBERT (PRESIDENT)
  • YVONNE NASH (SECRETARY)
  • TERRENCE THAMES (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Iowa center for opportunity resources & equity inc.'s mission is to research, advocate, and procure resources for historically disenfranchised communities and underserved populations in Iowa.

What it reported doing in 2024

Shop black Iowa - a curated e-commerce marketplace for historically disenfranchised small businesses in Iowa that allows customers from Iowa and other states to purchase goods and services that showcase Iowa's diverse economy. Any small business that is at least 51% owned by one or more individuals who have been historically subjected to racial or ethnic prejudices or cultural biases within the larger american culture have access to a trusted e-commerce marketplace and resources that is a destination for all. Success is measured by the number of businesses registered to sell on the online platform, the number of items they publish for e-commerce, and accumulated capacity building support / outreach engagements. Thanks to donations of in-kind support from member marketplace inc. And local sponsors, the online marketplace registration and costs are subsidized for the first 100 businesses that register for the platform. Currently there are more than 40 businesses registered. Learn more - https://rethinkiowa.shopwhereilive.com/

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 20
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.5%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -76.5%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.01; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 128% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 26.8% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: -66.5% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.5% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $438K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.